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Business, 28.11.2019 22:31 tre3731

Steve and marian purchase a new condominium in manhattan on february 1, 2019 to use as their primary residence. the purchase price of the condominium is $1.5 million. the couple obtained a $1.0 million mortgage from the bank and paid the balance in cash. on their joint tax return the couple will beallowed an itemizeddeduction for interest expense on a principal balance of up toa) $500,00.b) $1.0 millionc) $750,000.d) & 1.5million

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